Castle Brands

Castle Brands (NYSE MKT: ROX) is a developer and international marketer of premium and super premium beverage alcohol brands. Its core spirits include rum, whiskey/bourbon, liqueurs, vodka and tequila, which are marketed and sold in the United States, Canada, Europe, Latin America and Asia.[1]

About

In 1998, Castle Brands Inc. was founded by Mark Andrews, its current Chairman of the Board. Castle Brands Inc. is one of the few pure-play microcap, publicly traded spirits companies on the NYSE MKT. The company has built its portfolio with both wide market and niche liquor products, including Jefferson's Presidential Collection whiskies.[2]

It distributes its products in all 50 states in the United States and the District of Columbia, in thirteen primary international markets, including Ireland, Great Britain, Northern Ireland, Germany, Canada, South Africa, Bulgaria, France, Russia, Finland, Norway, Sweden, China and the Duty Free markets, and in a number of other countries in continental Europe, Asia and Latin America.[3]

History

The company was founded in 1998 by Mark Andrews, Chairman of the Board, under the name Great Spirits LLC, through Mr. Andrews’ contribution of family-owned Knappogue Castle Irish Whiskey. Castle Brands Inc, was later established in 2003 and Great Spirits LLC was merged into Castle Brands. Between 2003 and 2006, Castle Brands acquired Roaring Water Bay Spirits, later acquired McLain & Kyne, established Gosling-Castle Partners and signed a distribution agreement with I.L.A.R. These four deals expanded the portfolio with Jefferson’s Bourbon, Boru Vodka, Clontarf Irish Whiskey, and Brady’s Irish Cream Liqueur and provided exclusive distribution rights to Gosling’s rums and Pallini Limoncello.[4]

Timeline of Castle Brands' history since its founding in 1998, including IPO and multiple brand acquisitions.

Castle completed its IPO in April 2006, at $9.00 per share, and raised net $29.3 million on 3.5 million shares. Proceed were used to fund product expansion with the October 2006 acquisition of McLain & Kyne and increase sales and marketing efforts. Additional private financing added product lines. Management is focused on growing its current portfolio of premium brands across four categories; rum, whiskey/bourbon, liqueurs and vodka. [5]


Brands

Castle Brands’ current portfolio contains the following brands:[6]

References

  1. ↑ Castle Brands company web site.
  2. ↑ http://www.castlebrandsinc.com/about/people.php
  3. ↑ http://castlebrandsinc.com/map/index.html
  4. ↑ Barrington Research (6 May 1014), Initiating Coverage Report
  5. ↑ Barrington Research (6 May 1014), Initiating Coverage Report
  6. ↑ http://castlebrandsinc.com/index2.php


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